South Korea plans to bolster its fiscal support for domestic chipmakers next year, shoring up an industry that may face unfavorable policies from the incoming Trump administration and more intense challenges from Chinese rivals.

SEOUL (Reuters) - South Korea plans to roll out 14 trillion won ($10 billion) of low-interest loans next year to support its chip industry, the finance ministry said, as the sector grapples with Chinese competition and uncertainties over a new U.S. administration.

South Korea will provide 14 trillion won ($10 billion) in low-interest loans next year to support its chip industry, according to the finance ministry. This initiative, designed to counter growing competition from China and uncertainties surrounding U.

China's largest foundry operator, SMIC, surpassed the US$2 billion revenue mark for the first time in the third quarter of 2024. Meanwhile, companies like CXMT and JHICC are aggressively lowering DDR4 prices,

South Korea plans to roll out 14 trillion won ($10 billion) of low-interest loans next year to support its chip industry, the finance ministry said, as the sector grapples with Chinese competition and uncertainties over a new U.

South Korea plans to bolster its fiscal support for domestic chipmakers next year, shoring up an industry that may face unfavorable policies from the incoming Trump administration and more intense challenges from Chinese rivals.

The country is constructing what it expects to be the world's largest high-tech chipmaking cluster in Yongin and Pyeongtaek.

South Korea plans to begin providing 14T won (about $10B) in low-interest loans next year to boost its chip industry.